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In a letter to the Duke, posted on his embassy’s website, Mr Yakovenko said: 'All day long we were anxiously following the rescue operation searching for Russian seamen from the sunk Swanland vessel.

'We know that you took an active part in the rescue and the two seamen were saved thanks to your selfless effort under the bad weather conditions.

'Let me express to you and your colleagues my deepest gratitude for saving the lives of the Russian citizens.' The Swanland sank about 10 miles west of the Lleyn peninsula in North Wales.

William’s search and rescue team, based at RAF Valley on Anglesey, was called into action when the cargo ship issued a mayday call at around 2am when its hull cracked.

The Duke is understood to have been involved in the operation for several hours.

The emergency took place shortly before it was announced that Britain's search-and-rescue helicopter service, is to become a civilian-only operation.

Yesterday, Ms Greening said search and rescue would be provided by civilian crews following the Sea Kings' retirement.

The plans also include the end of search-and-rescue operations at RAF Boulmer in Northumberland in 2015 and at the coastguard centre at Portland in Dorset in 2017.

William is involved in search-and-rescue work from his base at RAF Valley in Anglesey and helped in the rescue operation in the Irish Sea on Sunday.

Last flight: RAF Sea King rescue helicopters are set to be gone by 2013

The Ministry of Defence (MoD) had already announced its intention to retire its fleet of Sea King helicopters by March 2016.

Under existing arrangements, search and rescue is provided jointly by the MoD - operating a fleet of Sea King helicopters from eight military bases - with a further four civilian bases operated under contract to the Maritime and Coastguard Agency (MCA).

Ms Greening added that she expected to award a contract for the search-and-rescue work in early 2013.

The winning bidder would be expected to operate from 10 locations but provide at least the same level of service as at present.

Ms Greening went on: 'The Royal Navy and the RAF crews have shown great dedication and professionalism in delivering an exemplary search and rescue service for many years, and we owe them all great thanks for this.

'Looking forward, we are confident that, building on nearly 30 years of civilian service provided under contract to the MCA, a fully-civilian service will be able to maintain the same standards in the future.'

Shipping Minister Mike Penning said Britain would be getting a new fleet of faster and more modern search-and-rescue helicopters.

Yesterday's announcement follows the Government announcement in February this year that it was halting a £6billion procurement programme for search-and-rescue helicopters because the preferred bidder had admitted it had access to commercially sensitive information.

Under the privatisation plans, preferred bidder Soteria would have provided US Sikorsky helicopters to fly search-and-rescue missions from 12 bases.

Video of the rescue involving Prince William

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William's job on the line? As Russians thank Prince for rescue role, Britain looks at scrapping RAF role in search-and-rescue helicopter service